UBC Media Group, the multimedia content and services company, reports its Interim Results for the six months ended 30 September 2011.
- Good progress on key strategic goals; increasing digital video and lowering reliance on BBC
- Revenue from digital video increases 43% to £0.4m (2010: £0.3m
- Digital video content now 20% of turnover (2010: 13%);
- BBC radio production now represents 41% of turnover (2010: 47%).
- Online video from acquisition Lynx has been strong with a monthly average turnover of £45K
- Revenues from mobile in Interactive division nearly doubled at £84K (2010 £46K)
- Improved underlying operating loss of £0.3m (2010: £0.5m);
- Reduced operating loss for the period from continuing operations of £0.5m (2010: £0.7m) due to savings on administrative expenses;
- Group revenue £2.0m (2010: £2.1m);
- Cash position Sept 2011 £3.8m (2010: £5.1m);
- Interim Dividend announced 0.07 pence (2010: 0.105 pence)
Simon Cole, Chef Executive, commented: "We continue the cautious approach following our disposal two years ago, gradually improving margins and re-aligning our core business whilst waiting for the economic climate to deliver us further acquisition opportunities at the right value. The growth of our video production is particularly encouraging; we are benefitting from changed working practices in this area, which favour smaller and leaner production operations. I am confident of a second half which will show further movement in these areas."